Fiat Chrysler to invest over $1 billion in Ram Truck plant

President Donald Trump speaks during a prison reform roundtable in the Roosevelt Room of the Washington Thursday Jan. 11 2018

Fiat Chrysler said this week that it would move production of its Ram heavy pickup trucks from Mexico to MI.

When Fiat Chrysler announced its decision to move production of the Ram Truck plant from Mexico to Michigan, President Donald Trump tweeted praise for the company's "very wise decision" and a promise of more to follow.

FCA also plans to use some of the tax savings to give a $2,000 bonus to its roughly 60,000 employees as a monetary thank you. The automaker will modernize the Warren plant and prepare it for Ram HD production. The truck now is assembled in a Mexican factory that will be "repurposed" for another global product, FCA said.

In the same press release, FCA said it would make a special bonus payment of $2,000 to about 60,000 hourly and salaried USA employees.

Several companies have made announcements of employee bonuses in hikes in minimum age since the Republican-controlled Congress passed tax reform legislation in December.

FCA will shift production of trucks from its current plant in Mexico back to a plant near Detroit and will also divvy up bonuses to the company's American workers, in light of the recent tax reform law, The Sun Herald reports.

Fiat Chrysler Automobiles (FCAU) said late Thursday it will distribute special bonuses to USA employees and add 2,500 new jobs as a result of the tax reform bill signed by President Donald Trump.

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$350 million in the Belvidere Assembly Plant (Illinois) to produce the Jeep Cherokee, which moved from Toledo, Ohio in 2017.

The Saltillo plant will be repurposed for production of future commercial vehicles for global distribution.

Mark Hackel, Macomb County executive, said the Thursday announcement is part of an ongoing narrative.

Dealers will update the engine control software, the company said, adding that most incidents associated with the glitch took place at low speeds or when the vehicles were starting up. In talks about revising the North American Free Trade Agreement, Trump's administration has proposed a requirement that 50% of all auto parts or vehicles assembled in Mexico start in the USA, and fears have been renewed that the trade deal is imperiled.

Talks between the USA and Mexico bogged down in late November after Mexico proposed to limit US companies' ability to bid on government contracts.

A Chrysler Warren Truck Assembly sign is seen in front of the Fiat Chrysler Automobiles (FCA) plant in Warren, Michigan October 7, 2015. BidaskClub raised Fiat Chrysler Automobiles from a buy rating to a strong-buy rating in a research note on Thursday, September 28th.

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